The S&P 500 just ended the day inches away from completing a $9.8 trillion roundtrip. Here's what's going on

“One of the key foundations of the strong dollar, of the dollar as a dominant currency globally, is to have an independent central bank,” Pesole said. “So, if [global investors] feel there is greater influence of politics into the Fed’s decisions, then they are pricing in a greater risk for the dollar.”